I don't know why the price dropped today. I know the price dropped from $31 due to exactly one thing: Silk Road closing registrations.

Is there some unwritten rule that says "All bitcoin discusions must eventually mention Silk Road"?

How do you propose why ppl want to use bitcoin then? The only reason i can think of is anonymous transaction.

The concept is nice for all geeks but i dont think it would ever get accepted as currency.

I'm not even talking about the illegal activities yet.

I was going to post a thread the other day that would address this issue with a solution that others here could've commented on but I got sidetracked with Atlas leaving, and then Ragnar. Perhaps if I, and others, concentrated our energies on important issues, we could get this train back on track. It's so easy, though, to get caught up in the cynical narrative, we tend to forget what exactly is at stake.

I love bitcoin, the concept, it is scientifically sound, great idea. BUT and a HUGGGGE BUTT. What do you need it for, what or why do you need to buy something with bitcoin unless its silk road? Anonomous is the only part I see that it has, but cash can have just as good as anonononymity as Bitcoin so really not a benefit there. I just dont see it ever hitting mainstream as a currency. It was a great ride, nice bubble, some people got really really fucking paid off of this like a ponzi scheme and now its just holding on for dear life. I think its cool, but beyond that it really has lost its purpouse unless many many things change.

Like I keep saying. Crypto-currency is a fundamentally new technology people don't really understand. I remember when fractals were discovered. For a long time, people thought they were only good for making landscape pictures. Now fractals are integral in all areas of science and have revolutionized technology. Bitcoin has incredible possibilities we haven't figured out yet.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.